The federal government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has threatened to shut down any filling stations profiteering from Nigerians by selling Premium Motor Spirit (PMS), also known as petrol, as high as N1,000 per litre. The NMDPRA alleged that several filling stations operated by independent marketers, have raised their prices…
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in collaboration with the Decade of Gas Initiative, on Monday, flagged off the distribution of free cooking gas cylinders to approximately 300 women in Lagos State. Speaking at the event held in Ikeja, Ekpo maintained that the distribution of cylinders is part of the government’s…
The Academic Staff Union of Universities (ASUU) says the federal government has consistently failed on its promises to address the lingering issues hindering the development of Nigeria’s universities. ASUU earlier issued a 21-day notice to the federal government for a nationwide strike. Emmanuel Osodeke, the union’s president, was at the Michael Okpara University of Agriculture…
The Nigerian government has announced the issuance of a $500 million five-year domestic dollar bond, opening for subscription on August 19, 2024. The bond offers a competitive interest rate of 9.75%, aimed at attracting both local and international investors. The bond issuance is part of the government’s ongoing efforts to diversify its funding sources and…
Zhongshan Fucheng Industrial Investment Co. Ltd, a Chinese firm, says it has agreed to release one of Nigeria’s seized presidential jets. A French court recently ordered the seizure of three presidential jets belonging to Nigeria over a contract dispute between the Chinese firm and Ogun state government. The court ruled that the firm should use…
GISTSMATE MEDIA reports that Zhongshan Fucheng Industrial Investment Co. Limited, the Chinese firm that got a court injunction to ground three presidential jets belonging to the Federal Government in Europe, has initiated plans to seize other Nigerian assets in the United Kingdom, United States of America and in six other countries. This Nigeria news platform…
The federal government says its dollar-denominated domestic bond will be issued on Monday. Gbadebo Adenrele, managing director of investment banking, at United Capital Group, spoke on Thursday during a hybrid roadshow with investors organised by the Debt Management Office (DMO). On July 25, the federal government said it would issue $500 million in domestic foreign…
GISTSMATE MEDIA reports that the Minister of Information and National Orientation, Mohammed Idris, announced that Nigerians can access at least eleven different initiatives established by the Federal Government. These key initiatives span various sectors, including education, transportation, business, housing, and skills acquisition, among others. Idris made this disclosure in a Wednesday noon post on X,…
The Nigerian government has frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of #EndBadGovernance protesters. The freezing followed an order by the Federal High Court in Abuja. The judge, Emeka Nwite, gave the order in a ruling delivered on 9 July, a copy of the…
The Federal Government, in collaboration with the International Cotton Advisory Committee (ICAC), has kickstarted the resuscitation of Nigeria’s cotton industry. The target is to create over 1.4 million jobs annually in the cotton/textile sector, while the focus is to develop key components of the cotton value chain comprising farming, weaving, ginning and linking of cotton,…